FLC Capital Advisors Takes $207,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

FLC Capital Advisors bought a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,370 shares of the credit services provider’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in PayPal by 0.9% in the 2nd quarter. State Street Corp now owns 45,846,969 shares of the credit services provider’s stock valued at $3,059,368,000 after purchasing an additional 423,625 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of PayPal by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock worth $1,586,966,000 after acquiring an additional 235,651 shares during the last quarter. Morgan Stanley increased its stake in shares of PayPal by 4.5% in the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after acquiring an additional 873,181 shares during the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of PayPal by 110,462.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock worth $1,220,431,000 after acquiring an additional 17,120,572 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of PayPal in the 4th quarter worth $1,022,333,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PYPL shares. Evercore ISI raised their target price on PayPal from $56.00 to $60.00 and gave the stock an “in-line” rating in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $74.00 price objective on shares of PayPal in a research report on Thursday, March 21st. JPMorgan Chase & Co. cut their price objective on PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. JMP Securities reissued a “market outperform” rating and set a $68.00 price objective on shares of PayPal in a research report on Thursday, February 8th. Finally, Monness Crespi & Hardt cut their price objective on PayPal from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.47.

PayPal Stock Up 0.6 %

PYPL traded up $0.42 during trading on Thursday, hitting $66.99. The company had a trading volume of 10,669,466 shares, compared to its average volume of 18,347,123. The company has a market cap of $71.80 billion, a PE ratio of 17.48, a P/E/G ratio of 1.51 and a beta of 1.44. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $77.95. The business has a 50-day moving average of $61.32 and a 200-day moving average of $59.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The company had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. As a group, analysts forecast that PayPal Holdings, Inc. will post 3.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Frank Keller sold 7,686 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by corporate insiders.

PayPal Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.